Established Conventional
For Sale
$299,000
2 Founders St, Patten, ME 04765
Restaurant business serving local patrons and visitors near regional outdoor recreation routes.
Property Size1,956 SF
Price / SF$152.86
Days on Market75
Property Features for 2 Founders St
General Information
Standard status
Active
Size
1,956 SF
Additional Details
Business Included
Yes
Building Details
Year Built
1968
Listing Agency:
Realty of Maine
Listed By:
Sheldon Anderson
(207) 267-0656
Source:
Aroostookrealestate
Added: Aug 2
Changed: Oct 14
Last Checked: Oct 7 at 3:09PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Realty of Maine
Investment Insights
Based on property information with market context.
This conventional restaurant occupies a 1,956-square-foot property built in 1968. The business has operated in the community for more than 30 years and serves an established local customer base, along with visitors traveling through the area.
The property is at the edge of the Aroostook Scenic Highway in Patten, with access from local ATV and snowmobile trails. Its setting also places it along routes used to reach Baxter State Park and the Katahdin Woods and Waters National Monument. Seasonal outdoor activity in the surrounding area includes hunting for bear, deer, moose, and grouse, as well as freshwater fishing, creating a customer base that includes repeat regional visitors.
The property is at the edge of the Aroostook Scenic Highway in Patten, with access from local ATV and snowmobile trails. Its setting also places it along routes used to reach Baxter State Park and the Katahdin Woods and Waters National Monument. Seasonal outdoor activity in the surrounding area includes hunting for bear, deer, moose, and grouse, as well as freshwater fishing, creating a customer base that includes repeat regional visitors.
Key Highlights
- 1,956‑square‑foot restaurant property
- Built in 1968
- Operating in the community for more than 30 years
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$26,646
Cap Rate
8.91%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$532,920
$532.9K
Cap Rate 7%
$380,657
$380.7K
Cap Rate 9%
$296,067
$296.1K
Market Conditions
NOI Build-Up for 1,956 SF
Gross rent
$37.1K $18.96/SF
− Vacancy
−$1.6K −$0.80/SF
EGI
$35.5K $18.16/SF
− OpEx
−$8.9K −$4.54/SF
NOI
$26.6K $13.62/SF
Area
Penobscot County, ME
Vacancy
4.20%
Lease Rate
$18.96 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$532,920
Cap Rate 7%
$380,657
Cap Rate 9%
$296,067
Alternative Uses
Best Use
Specialty Retail
$380.7K
$333.1K – $444.1K
NOI $26,646 @ 7.0% cap · market cap 8.91%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$631.7K
$552.8K – $737.0K
NOI $44,221 @ 7.0% cap · market cap 14.79%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
85
Businesses Nearby
475
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 100%
Napa Auto Parts
Shops & Services
475 visits/mo
0.1 miles
Demographics for 04765, ME
1,122
Population
1,073
Households
1
Avg Household Size
52
Median Age
25%
College-Educated
90%
High-School Grad
750.6 sq mi
ZIP Area
1
Density / Sq Mi
$47,269
Median Household Income
$33,631
Median Earnings
$347
Median Rent
$120,400
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Conventional restaurant - Restaurant business serving local patrons and visitors near regional outdoor recreation routes.
Where is this conventional restaurant located?
The property is located at 2 Founders St Patten, ME.
What is the asking price?
The asking price for this property is $299,000.
What are key features of this property?
This property features: 1,956‑square‑foot restaurant property; Built in 1968; Operating in the community for more than 30 years
